MapleStream Technologies is considering a new $8-$year project. The project requires the purchase of new equipment costing $$500,000,$ which has $$0$ salvage value at the end of the project. Revenue is expected to be $$100,000$ in year $1$ and will grow at $6\%$ per year. The operating costs $($not including the depreciation$)$ are $30$ percent of revenues in each year. The firm needs to invest $$50,000$ in net working capital immediately, which is going to be recovered at the end of the project. The cost of capital is $10$ percent, the depreciation rate $($also called CCA rate$)$ is $20\%($use PV of CCA tax shields formula which is provided here, to find PV$0$ of all tax shields$),$ and the tax rate is $35$ percent. Assume all the cash flows occur at the end of each year. Calculate the NPV of the project $($Round your answer to the nearest Dollor. If your answer is $$-1000\mathrm{.}25,$ write $-1000.$

$PVof$ CCA tax shields $=[\frac{T_d{C}_0}{k+d}]|$~$\frac{1+0\mathrm{.}5k}{(1+k{)}_{{?}_{?}}}|-{|}_{{?}_{?}}\frac{1}{((1+k{)}^n{)}_{{?}_{?}}}|[\frac{Td(S)}{k+d}]$

Benefit $of$ Tax Shield

Loss $of$ Benefit $of$ Tax

$T=$ Firm's Marginal Tax Rate

Shield from Sale

$d=$ CCA Rate

$C_2=$ Capital Cost $of$ Asset

$k=$ Discount Rate

$S=$ Net Salvage Value

$n=$ Usetul Life $of$ the project